Construction of the VND2 trillion ($82.4 million) VSIP Quang Tri Industrial Park will begin December 15, according to Quang Tri authorities.
The project is a joint investment by three major players: Vietnam-Singapore Industrial Park J.V. Co. Ltd., well known for its VSIP facilities; Thailand-invested Amata Bien Hoa JSC, known for the Amata industrial parks; and Japan’s Sumitomo Corporation, investor of Thang Long, Thang Long II, and Thang Long Vinh Phuc industrial parks in the northern region.
Construction of the 480-hectare Quang Tri Industrial Park is expected to be completed in 2025. Its first phase will cover 97 hectares.
The project is expected to boost economic growth in Quang Tri and strengthen the East-West Economic Corridor that links Vietnam, Laos, Cambodia and Thailand.
Quang Tri attracted foreign direct investment of $0.35 million in the year to November 20, according to the Ministry of Planning and Investment. As of November 20, the central province had lured FDI worth $2.52 billion in 26 valid projects, ranking 34th in the country in terms of investment value.
The province’s index of industrial production (IIP) grew 11.3% year-on-year in November and 9.44% in January-November, according to provincial data, outperforming the national average of 1% for the 11-month period.